The Iowa Beef Industry Council said customers can enjoy higher quality along with lower prices, thanks to an increase in cattle population in Iowa.

"When prices are low, you may enjoy higher-end steak – such as the rib-eye – as opposed to some of the ground beef that you may traditionally have in some of your winter recipes," said Chris Freland, executive director of the Iowa Beef Industry Council. "Coming into grilling season, I think that's exciting."

Many Iowans are taking advantage of the lowered beef prices.

"I'll buy a lot more beef, more ribs, more steaks, everything like that," said Joshua Coleman, of Ames.

Egg prices are also dropping after avian influenza contributed to high prices last year.

The Iowa Egg Industry Center said egg prices are the lowest in 10 years.

"For the shell egg market, it's the lowest since 2006," said Maro Ibarburu, associate scientist and business analyst at Iowa State University's Egg Industry. "For the liquid egg market, it's the lowest since 1999."

The lower prices are helping Iowans on a budget.

"If it's there, why not?" said Lucas Guzek, of Ames. "I'm freezing it, so I'll just use it later on. If it's cheap now, buy it. Use it later, so it works out for the better. It's good to have cheap groceries, especially when you're in college. Can't complain with that."

"It makes me optimistic," said Sheila Romsey, of Ames.

The Iowa Egg Industry Center said prices will eventually balance back out but did not indicate when.